Appraisal Reviews by Saxton Appraisals, Inc.
According to a statement by the Federal Reserve, "financial institutions must have an effective, independent real estate appraisal and evaluation program," and that appraisers doing reviews are obligated to "have the proficiency and skills to assess compliance with the Federal Reserves appraisal regulations and guidelines." Saxton Appraisals, Inc. provides appraisal review services that are unbiased, efficient, professional and square with the Federal Reserve's guidelines.
If you have questions about an appraisal, or if you need a real estate appraisal review, call us today.
Appraisal reviews "should verify whether the appraisal or evaluation is applicable for the transaction, the danger of the transaction, and whether the processes by which the collateral valuation is obtained guarantees independence and quality," the Federal Reserve says. They "should also show whether the appraisal or evaluation report is true to the letter of engagement, which sets forth the capacity of the appraisal assignment." Last, The Federal Reserve states that "some banks add routine reviews with post-funding assessments of appraisal quality for some of their higher-liability or higher-value dealings as a method to help in uncovering valuation concerns."
In addition to coordinating our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are mostly used for review services, and we will produce an appraisal review on any of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Saxton Appraisals, Inc., we are qualified in all forms of appraisal reviews, review processes and the obligations of review appraisers.
Saxton Appraisals, Inc. realizes what makes a quality appraisal and what the most frequent imperfections are, particularly in our housing market. In this regard, we are trained enough to realize that the competitors in our market are skillful in doing a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can count on Saxton Appraisals, Inc. to lawfully valuate appraisal reports performed by others. And those others might be studying our work, too!
You can trust Saxton Appraisals, Inc. for our neutral judgment, because we offer professional, impartial, ethical appraisal review services for our clients. Contact us regarding our qualifications, expertise and service offerings.